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HSBC customers not paid after software problem


Thousands of HSBC customers have not received expected funds in their bank accounts today, just before the bank holiday weekend.

The bank has claimed that there has been an issue that has effected payments to some HSBC customers. HSBC were not able to say how many customers have been affected, or how long it would take to fix the problem. The bank will post any updates via its Twitter page.

According to the BBC, the issue is due to the information used by HSBC to process some payments, rather than a problem with the Bacs payments system itself. Bacs is used by all UK financial institutions for funds transfers. People who were expecting payments from HSBC (such as wages) into accounts held with other banks have also not received anything.

HSBC have conacted the Bank of England in relation to the problem, and the financial regulator, the Financial Conduct Authority (FCA) has also been made aware.

A spokesperson for HSBC said:
"We apologise for any inconvenience caused and are working hard to resolve the issue as quickly as possible.”

The situation is similar to one that effected Royal Bank of Scotland, NatWest and Ulster Bank customers in June 2012, when problems with a software upgrade meant that millions of people were unable to access their current accounts. The FCA fined RBS £56 million for this in 2014.

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